NORTHWESTERN UNIVERSITY BULLETIN Vol. XVI. May 12, 1916 No. 34 Published Weekly by Northweuem University. Northwestern University Building, Chicago, Illinois V mi n THE SCHOOL OF COMMERCE 1916-1917 Northwestern University Evanston and Chicago The School of Commerce 1916-1917 Published by the University CONTENTS CaI-ENDAR ^ The Faculty 4 Special Lecturers 5 The School of Commerce y Admission Requirements g Credits lO Course in Business Administration Degree, Bachelor in Business Administration 1 1 Requirements for the Degree, Bachelor in Business Admin- istration II Schedule of Courses 12 Selection of Subjects 15 Degree, Bachelor of Science 15 Registration 16 Description of Courses 17 General Information The Library 29 Employment for Gr?iduates 30 Residences for Men 31 Grades of Scholarship 32 Class Attendance 33 Fees and Expenses 33 Self-support of Students 34 University Not Responsible for Personal Losses 35 How to Address Correspondence 35 i9i6 Sept. 25 Mon. Sept. 25 Mon. Sept. 25 Mon. Sept. 27 Wed. Sept. 28 Thu. Oct. 3 Tue. Nov. 10 Fri. Nov. 30 Thu. Dec. 6 Wed. Calendar 1916-1917 Academic year 1916-1917 begins Examinations for admission First day of registration Second examinations Class work begins Last day for registration of candidates for advanced degrees Gage Prize Contest Thanksgiving recess, to December 3, inclusive Last day for filing titles of theses for advanced degrees Dec. 20 Wed. Christmas recess to January 3, Wednesday, inclusive Class work resumed Central Debating League Contest Last day for presentation of orations for Kirk Prize Mid-year examinations begin Second examinations. Last day of registration for the second semester Second semester begins. Class work resumed Kirk Prize Contest Washington's Birthday Local Freshman Debate Sargent Prize Contest Easter recess, to April 9, Monday, inclusive Second examinations Intercollegiate Freshman Debate Last day for the presentation of theses for the Har- ris Prize and the Orrington Lunt Prize Northern Oratorical League Contest Last day for filing theses for advanced degrees Oral examinations of candidates for advanced degrees Regular examinations begin Memorial Day FIFTY-NINTH ANNUAL COMMENCEMENT I9I7 Jan. 4 Thu. Jan. 19 Fri. Jan. 20 Sat. Jan. 29 Mon. Feb.. 10 Sat. Feb. 12 Mon. Feb. 16 Fri. Feb. 22 Thu. Feb. 23 Fri. Mar. 9 Fri. Apr. 6 Fri. Apr. 9 Mon. Apr. 20 Fri. Apr. 28 Sat. May 4 Fri. May 19 Sat. May 26 Sat. May 28 Mon. May 30 Wed. June 13 Wed. The Faculty Abram Winegardner Harris, Sc.D., LL.D. President of the University Willard Eugene Hotchkiss, Ph.D. Dean Arthur Emil Swanson, Ph.D. Director of Evening Classes Neva Olive Lesley Secretary Willard Eugene Hotchkiss, Ph.D. Professor of Economics and Social Science ^Walter Dill Scott, Ph.D. Professor of Advertising Earl Dean Howard, Ph.D. Professor of Economics Frederick Shipp Deibler, Ph.D. Professor of Economics Alfred William Bays, B.S., LL.B. Professor of Business Law Arthur Edward Andersen, C.P.A. Professor of Accounting Ralph Emerson Heilman, Ph.D. Professor of Economics and Social Science Arthur Emil Swanson, Ph.D. Associate Professor of Economics and Business Organization Walter Edward Lagerquist, Ph.D. Associate Professor of Economics and Commerce Horace Secrist, Ph.D. Associate Professor of Economics and Statistics David Himmelblau, B.A., C.P.A., B.B.A. Assistant Professor of Accounting *Absent on leave. Homer Bews Vanderblue, Ph.D. Assistant Professor of Transportation Frederic Ernest Richter, M.A. Assistant Professor of Banking Henry Post Button, B.E.E. Instructor in Factory Management Charles Merle Ruth, LL.B. Instructor in Business Law Eric Louis Kohler, M.A. Instructor in Accounting Walter Kay Smart, Ph.D. Lecturer in Business English George Mark Sneath, M.A. Lecturer in Business English Thomas Lutz Stitt Lecturer in Foreign Trade Walter Sheldon Tower, Ph.D. Lecturer in Resources and Trade MIchele A. Vaccariello, B.A. Lecturer in Commercial Spanish and Commercial French Andrew Thomas Weaver, M.A. Lecturer in Public Speaking James Hamilton Picken Lecturer in Sales Correspondence James Harris Bliss, Jr. Lecturer in Accounting John Fred Lynn Lecturer in Accounting Roy Hall, B.A. Assistant in Accounting Special Lecturers 1915-1916 John J. Arnold Vice-President and Manager of Foreign Department, First National Bank Irving A. Berndt Manager, Betterment Department, Joseph T. Ryerson & Son Arthur Bryant Betterment Department, Joseph T. Ryerson & Son Pierre Bonnecue Tabulating Machine Company Mark W. Cresap Vice-President and Credit Manager, Hart, Schaffner & Marx Thomas Drever Comptroller, American Steel Company Edward P. Farwell Local Manager, Babson Statistical Organization Frank Gilbreth Consulting Engineer, Providence, R. I. Royal Keeley Industrial Engineer, Chicago C. E. Knoeppel Counselor on Industrial Management, New York City J. F. Lynn Hirsh Stein Company Albert C. MacMahan Sales Department, National Cash Register Company Charles F. McConnell Purchasing Department, Sears, Roebuck & Company J. Lee Nicholson, C.P.A. Factory Cost Specialist, New York City James Peabody Statistician, Atchison, Topeka and Santa Fe Railway Arthur J. Peterson Rate Setter, Link-Belt Company Charles H. Schw^eppe Lee Higginson & Company W. Ernest Seatree, C.P.A. Resident Partner, Price Waterhouse & Company A. W. Shaw Editor of "System" Edward M. Skinner General Manager, Wilson Brothers Frank E. Webner, C.P.A. Expert Cost Accountant Harry A. Wheeler Vice-President, Union Trust Company George Woodruff President, First National Bank, Joliet The School of Commerce ORGANIZATION AND LOCATION Northwestern University School of Commerce was organized by Northwestern University in June, 1908, when sixty business men of Chicago, members of the Chicago Association of Commerce, the Illinois Society of Certified Public Accountants, and the Industrial Club of Chicago, assumed financial responsibility for the School during the first three j^ears of its existence. Northwestern University, by virtue of its location in a leading commercial center, occupies a favorable position for carrying on education for business. The general offices of the School of Com- merce are in the Northwestern University Building, Chicago, and the day classes are conducted on the College Campus in Evanston, situated on the lake shore immediately north of the city. A branch Commerce office is in Harris Hall, on the Campus. The University is equipped with library and other facilities be- sides being in close proximity to the large libraries of Chicago. Its location offers a wealth of material for study and observation, and the advantage of location is greatly enhanced by a plan of organiza- tion which insures close co-operation with progressive and public- spirited business men. THE AIM OF THE SCHOOL OF COMMERCE Instruction in the School of Commerce is based on three fundamental aims: first, to give students a comprehensive, many- sided survey of business facts and experience; second, to develop a power of accurate analysis which will prepare the student to think complicated business problems through to the end ; third, to maintain an atmosphere in which large business problems will be regarded in a public-spirited way. Fundamentally, then, the object of the School is to train business executives. SUCCESSFUL BUSINESS MEN, TRAINED MEN Men who have been successful in a legitimate business have in some way been trained for that success. They may have been trained by the business itself, but if they have, years of experience have brought them to the point where they observe certain definite prin- ciples of business action. Consciously or unconsciously, these prin- NORTHWESTERN UNIVERSITY ciples are applied to the solution of problems just as principles are applied to the solution of problems in law, medicine, and other pro- fessions. TRAINING BY EXPERIENCE WASTEFUL To learn from trial and error, from the mistakes of the daily routine, is costly. Only a short time ago, lawyers, doctors and engi- neers were being trained in the school of experience. Early chemists were limited to the results of their individual observations and research. But today no one would think of sending a prospective chemist to a laboratory to work out his preparation at random without the benefit of the experience and the scientific principles already achieved. As the principles of chemistry and other sciences have been derived from experiment and observation, so there is need of assem- bling the results of experience in business and of making available for the future, principles of business management which have emerged from the successes and errors of the past. The wastefulness of leaving each individual to learn from costly experience what others have discovered over and over again, has brought the keenest execu- tives to realize that systematic business training is a fundamental necessity. Admission REQUIREMENTS FOR ADMISSION TO THE COURSE IN BUSINESS ADMINISTRATION Applicants for admission to the course in Business Administration must have satisfied entrance requirements in some college, profes- sional, or scientific school of approved standing and have completed two full years of study in such school. The inclusion, in the two college years, of a full year course in the Principles of Economics is recommended. Persons are not permitted to begin the work of the course in Business Administration unless their college record gives evidence of capacity to undertake serious professional study. COLLEGE PREPARATION FOR ENTRANCE TO THE COURSE IN BUSINESS ADMINISTRATION Persons about to enter college, who can meet the entrance require- ments of the College of Liberal Arts of Northwestern University, may qualify for entrance to the course in Business Administration by taking the following two-year Pre-Commerce course in the College of Liberal Arts: THE SCHOOL OF COMMERCE Freshman Year Sophomore Year Hours Hours Economic History (Economics Economics A 3 ^^) • ' \ 3 General Psychology 3 Mathematics Ai or A2 3 English Bi 2 English Ai or A2 3 Foreign Language (German A Foreign Language (French A ^^ French A) 3 or German A) 3 Geography 4 Science 4 Total 16 Total 15 Bookkeeping — second semester, no credit 2 If the applicant presents credit for less than two years of college work, such credit applies on the above Pre-Commerce course. COLLEGE ENTRANCE REQUIREMENTS FOR THE PRE-COMMERCE COURSE For admission to the Pre-Commerce course without examination, a certificate of the Principal of an accredited high school, or other qualified officer, must be presented, recommending the candidate as competent to pursue college studies to advantage, and showing fifteen units of credit as follows: A. At least three units of English, one unit of Algebra, and one unit of Geometry. B. Foreign languages — Latin, Greek, French, German — at least three units of one of these languages or two units of each of two of them. C. Other subjects sufficient to make, with the above, an ag- gregate of fifteen units. These may include any sub- jects commonly appearing as a part of a high school course, provided that no subject is presented for less than a half unit of credit. Vocal music and physical training are not recognized for credit. A condition of not more than one unit may be allowed to a can- didate ranking above the lowest quarter of his high school class, but no condition is allowed in the prescribed English, Algebra, or Geometry, Deficiencies in entrance credit may be made up by examination before admission, at the examinations of the College Entrance Ex- amination Board in June, or at the regular entrance examinations held at this University in September. All entrance deficiencies must be made up before the beginning of the second year of residence. For candidates who do not present from an accredited school cer- tificates covering the entrance requirements described above, the fol- lO NORTHWESTERN UNIVERSITY lowing provision is made: Examinations may be taken in the pre- scribed work in English, Algebra, Geometry, and Foreign Languages, and, if these are satisfactory, the candidate will be admitted to col- lege, provided he presents supplementary evidence of preparation equivalent to that furnished by a four-year high school course. CREDITS College credits for admission or for advanced standing, and high school credits for admission to the Pre-Commerce course in the College of Liberal Arts, must be forwarded direct to the University by the principal or the registrar of the institution last attended. The proper blanks will be furnished upon request. THE OBJECT IN REQUIRING TWO YEARS OF COLLEGE STUDY IN PREPARATION FOR ENTRANCE TO THE COURSE IN BUSINESS ADMINISTRATION The business career is rapidly acquiring, and ought to acquire, a recognized professional standing. Every young business man should have a training which not only will enable him to maintain his place in the profession but also will serve to make him a leader in raising the standards of business efficiency. To rise to such a position, he must be able to look beyond the routine duties of his work and to grasp the broader principles upon which business success is founded. Business today demands in particular men who are educated, and not men who are merely drilled in specific processes. The aim of the Northwestern University School of Commerce is to base the training of its students for business on the foundation of a broad outlook on life. Business is infinitely complex and specialized, and requires a power of analysis which nothing so well as a compre- hensive scientific training can give. With this complexity there exist, in a great modern business, far-reaching public relations de- manding a liberal culture and the finest qualities of mind and spirit. It is for the purpose of developing such qualities that colleges are maintained. In requiring two years of college work as a prerequisite for ad- mission to the course in Business Administration, and in combining with the strictly professional subjects in that course many others of a liberalizing purpose, the School of Commerce becomes articulated as an integral part of the scheme of American higher education. The student who contemplates taking up the course in Business Adminis- tration should pursue the two years of preparatory college work with the same earnest professional spirit which will be required of him in the years of the Business Administration course which follow, THE SCHOOL OF COMMERCE II remembering that, without the training of mind and spirit, he will not be able in any adequate way to solve the problems of his later course and of the active years which follow. Education is a public function and owes its chief duty to society. While the School of Commerce fully expects to promote the progress of its students toward positions of greater responsibility and influence, its first object is to make them useful members of the commonwealth by increasing their efficiency in rendering service. The Course in Business Administration THE DEGREE, BACHELOR IN BUSINESS ADMINISTRATION By vote of the Board of Trustees, January 9, 191 2, a course of study leading to the degree of Bachelor in Business Administration was approved. The plan of instruction contemplates a three-year course involving a thorough inquiry into the principles of business organization and management, and the application of principles to specific problems. The course comprises a careful and comprehensive survey of the different branches of business, followed by a more in- tensive study in some particular line. REQUIREMENTS FOR THE DEGREE, BACHELOR IN BUSINESS ADMINISTRATION Formal application for the degree must be made before Novem- ber I of the academic year in which the degree is granted. Every candidate for the degree will be required, during his last year, to undertake a piece of constructive investigation relating to the par- ticular business which he intends to enter. The subject of this investigation must be filed with the secretary of the School of Com- merce not later than December i, and a thesis containing the results must be presented not later than May 15. In order to qualify for the degree at the end of the third year, it is necessary for the student to secure a position and to be employed in the line of business for which he is preparing, during the summer intervening between the last two years. Candidates offering advance credit from other institutions are required to pursue at least one full year's work under the direction of the School of Commerce faculty. The degree, Bachelor in Business Administration, is not awarded merely as result of pursuing a specified number of courses. Stu- dents are expected to meet the requirements imposed with the professional spirit and measure of precision demanded in well-regu- lated business houses. As the course progresses, they should acquire 12 NORTHWESTERN UNIVERSITY ability to analyze business situations and to apply fundamental prin- ciples to the solution of practical business problems. If after a reason- able time a student's work does not give promise of effectiveness in the business field, he is discouraged from continuing the course. Schedule of Courses First Year The required work of the first year of the Business Administration course is alike for all students regardless of the particular field in which they intend to specialize. The schedule for this year is as follows: Note: Year-subjects are printed in dark type; semester-subjects in light type. Required Subjects One Elective in Money and Banking English Corporation Finance Political Science Investments History Accounting I I'sycliology Statistics 3Iathematic8, or Kesources and Trade Science A student, who, upon entering the course in Business Administration, has not had the Principles of Economics, will be required to postpone the sub- jects Money and Banking, Corporation Finance and Investments until the second year, and substitute other subjects. Second and Third Years The arrangement of the subjects in the last two years is flexible and is adjusted with each student in such a way as to meet his particular need. In all cases, however, emphasis in the last year is laid primarily on individual work in some special field of business research. The following schedules give the required subjects of the last two years and the list of subjects from which electives may be selected by students preparing for particular business careers. ACCOUNTING Second Year Third Year Required Required Business Organization Seminar in Accounting Commercial Organization Accounting III Accounting II Cost Accounting Business Law Efficiency Standards Seminar Business Law Elective Public Service Accounting English Elective Public Plnance and Taxation Factory Management Transportation I>abor Problems Municipal Government Trust Law and Policy Mathematics BANKING AND FINANCE Second Year Third Year Required Required Business Organization Banking Law Commercial Organization Seminar in Banking Seminar Field Work and Special Problems Advanced Banking in Banking Accounting II Public Finance and Taxation Elective Elective Foreign Trade Public Service Accounting Municipal Government Industrial and Social Problems Trust Law and Policy Labor Problems Transportation THE SCHOOL OF COMMERCE 13 CHAMBER OF COMMERCE ADMINISTRATION Second Year Required Business Organization Commercial Organization Business Psychology Business Law Transportation Rate-making Seminar Elective Labor Problems Municipal GoTemment Sociology Third Yeak Required Factory Management Efficiency Standards Organization and Activity of Cham- bers of Commerce Foreign Trade Seminar in City Development Elective Public Finance and Taxation Industrial and Social Problems Business Law Political Science COMMERCE AND MERCHANDISING Second Year Required Business Organization Commercial Organization Seminar Business Psychology Business Law Transportation Rate-making Elective English Industrial and Social Problems Sociology Municipal Government Third Year Required Seminar in Merchandising Problems and Field Work Experimental Psycliology Efficiency Standards Industrial Relations Elective Foreign Trade Trust Law and Policy Labor Problems COMMERCIAL TEACHING Second Year Required Business Organization Commercial Organization Business Psychology Business Law Accounting II Seminar Elective Educational Psychology History of Education Problems in Secondary Education English Third Year Required Factory Management Efficiency Standards Business Law Cost Accounting Seminar in Commercial Education Elective English High School Methods Industrial and Social Problems Labor Problems FACTORY MANAGEMENT Second Year Required Business Organization Commercial Organization Business Psychology Factory Management Efficiency Standards Seminar Elective English Accounting II Industrial and Social Problems Engineering Third Year Required Laboratory in Factory Manage- ment ^ Cost Accounting Seminar Engineering Industrial Relations Elective Labor Problems Transportation Rate-making Experimental Psychology 14 NORTHWESTERN UNIVERSITY Second Year Required Business Organization Commercial Organization Business Psychologry Business Law Foreign Trade Seminar Elective History Political Science Sociology South American History Foreign Languages FOREIGN TRADE* Third Year Required International Law Transportation Rate-making Advanced Banking Business Law Seminar In Foreign Trade Elective South American Trade Efficiency Standards History Public Finance and Taxation Political Science Trust Law and Policy PUBLIC AND SOCIAL SERVICE Second Year Required Business Organization Commercial Organization Accounting II Business Law Seminar Elective Municipal Government Political Parties Sociology Labor Problems I^abor L«g:islation Public Utilities Third Year Required Efficiency Standards Cost Accounting Public Finance and Taxation Public Administration Seminar in Politics or Sociology Elective Constitutional Law International Law Industrial and Social Problems Trust Law and Policy Social Reforms Ludustrial Relations SECRETARIAL WORK Second Year Required Business Organization Commercial Organization Business Psychology Business Law Efficiency Standards Seminar Elective Fxperimental Psychology English Political Science Third Year Required Problems and Field Work in OfiBce Administration Seminar in Secretarial Adminis- tration Labor Problems Industrial and Social Problems Elective English Public finance and Taxation Sociology TRANSPORTATION Second Year Required Business Organization Commercial Organization Transportation Rate-making Seminar Elective Labor Problems Trust Law and Policy Accounting II Business Psychology Third Year Required Business Law Efficiency Standards Transportation Law Public Service Accounting Public Utilities Seminar In Transportation Elective Public Finance and Taxation Industrial and Social Problems Political Science •For students who expect to go into Foreign Trade an additional year of preparation is urged. THE SCHOOL OF COMMERCE IS Selection of Subjects IMPORTANCE OF FUNDAMENTAL COURSES It is highly important that students should be well grounded in those subjects in which fundamental principles are set forth. Espe- cially do students of business need a thorough training in the use of English. Certain fundamental subjects have been made the foun- dation of the course in Business Administration by including them in the schedule of the first year. Even in the highly specialized subjects of the later 5^ears, emphasis is constantly laid on the fundamental principles. CHOICE OF ELECTIVES Electives should be chosen, not with the idea of accumulating the largest volume of information, but with the purpose of securing a discipline in the line of work the student intends to follow. SPECIALIZING While the largest emphasis is placed on the training of executives in general, it is recognized that the work of the specialist plays a large part in present-day business, and provision is made for meeting the needs of persons who expect to go into special lines of business, such as banking and transportation, and likewise for those who intend to follow certain functional specialties like accounting. The basic principle, however, underlying the development of the course toward greater and greater specialization from the earlier to the later years, is that in connection with the opportunity to study business from many sides, the course should finally focus in an opportunity to go deeply into some one subject and become sufficiently master thereof to be able to analyze with authority problems in some narrow field. The degree of specialization, however, is not such as to prevent all students from mastering those subjects which are most fundamen- tal and when it is remembered that the specialization is disciplinary rather than informational, even the specialization itself does not commit a student to future work in the field of his specialty. Having gone deeply into a particular field is doubtless the best preparation for further work in that field, but it also serves as a training for intensive work in any field. American progress has owed too much to adapta- bility — the power to shift from one activity to another — to justify any course of study in which the feature of adaptability is sacrificed. THE DEGREE^ BACHELOR OF SCIENCE Students who take the Pre-Commerce course are able to qualify for the degree Bachelor of Science at the end of their second l6 NORTHWESTERN UNIVERSITY year in the course in Business Administration, and to qualify for the degree Bachelor in Business Administration at the end of the third year. Students who have taken their two years of college work else- where can qualify for the degree Bachelor of Science if their previous college course has included subjects equivalent to those of the Pre- Commerce course. The College of Liberal Arts requires for the Bachelor of Science degree a prescribed amount of work in a major subject and in two minor subjects. The subjects in Economics and Business proper cover the requirements for a major and one minor. They also cover a second minor in Government, Psychology, Mathematics, or some other College subject, the particular minor in each case being selected for its service to the student in the field of business for which he is preparing. Registration REGISTRATION FOR COURSE IN BUSINESS ADMINISTRATION Every applicant for the course in Business Administration is re- quired to register in person either at the office of the School of Commerce in Harris Hall on the Campus in Evanston, or at the office of the School of Commerce in the Northwestern University Building in Chicago. REGISTRATION IN PRE-COMMERCE COURSE Every applicant for the Pre-Commerce course is required to register in person at the office of the Registrar of the College of Liberal Arts, in University Hall, Evanston. Considerable advan- tage may be gained during the Pre-Commerce course from the counsel of a faculty adviser representing the School of Commerce. There- fore, students who are planning to enter the School of Commerce later are requested to signify their intention at the time of matricula- tion in the College of Liberal Arts. GENERAL REGISTRATION REGULATIONS Registration days are the first Monday, Tuesday, and Wednesday of the first semester; and the first Friday and Saturday of the second semester. A student not registered at the close of this period is subject to a fee of two dollars for late registration. Tuition bill is given to the student upon registration. This must be presented for payment immediately at the Business Manager's Office, 518 Davis Street, Evanston. THE SCHOOL OF COMMERCE 17 Description of Courses Accounting PROFESSOR ANDERSEN, PROFESSOR HIMMELBLAU, MR. KOHLER, MR. BLISS, MR. LYNN, AND MR. HALL Bookkeeping — Theory and Practice — The chief object of the work in Bookkeeping is to train students in general bookkeeping practice in order to prepare them to take Accounting I. Distinction between debits and credits; principles of single and double entry; summarization of transactions and books required for this purpose; various kinds of information conveyed through ledger accounts; principles of journalizing, with considerable class practice work in making of journal entries; posting from original books of entry to ledger and classification of transactions; definition of book- keeping terms; loss and gain accounts, and method of determining losses and gains; disposition of losses and gains; abstracting trial balances and uses to which trial balances are put; preparation of simple financial statements and final closing of books. Instruction is largely individual. Prerequisite for Accounting I. No credit. Second semester. Mon., 4 to 6. Mr. Hall. Accounting I — Principles — A survey of Accounting adapted pri- marily to the demands of general business; also the preparatory work for students specializing in Accountancy. Fundamental principles and their application; single-entry set of accounts developed into a modern accounting system. Problems and questions assigned for home study. Open to students with training equivalent to the work in Bookkeeping. Prerequisite for Accounting H. Required in the first year of the course in Business Administration. Credit, four semester-hours. First semester. Mon., Th., 2 to 4. Mr. Kohler. Accounting II — Intermediate — Continuation of Accounting I, for students desiring a thorough knowledge of accounts and auditing for general business training; also for students preparing for the C.P.A. examination. Subject matter treated from the auditor's point of view. A large number of the problems and questions which form the basis of the work are taken from C.P.A. examination papers. Statement of Affairs; Realization and Liquidation Account; Trustee and Executor's Accounts; Statement showing Application of Funds; Adjustment of Partners' Accounts; Capital vs. Revenue Expendi- tures; Branch and Agency Accounting; Survey of Principles of Cost Accounting including the principal methods used in the apportion- l8 NORTHWESTERN UNIVERSITY ment of overhead expenses; Auditing — Theory and Practice; Balance Sheets and various forms of Income Statements. Mergers and Amal- gamations; Consolidated Balance Sheet. Prerequisite for Accounting III. Credit, four semester-hours. Second semester. Tues., Fri., 2 to 4. Mr. Kohler. Accounting III — Advanced Theory^ Auditing and Practice — Continuation of Accounting II, primarily for persons w^ho expect to enter the Accounting profession. Students completing Accounting III and the Quiz Course should be prepared to take the Certified Public Accountant's examination, provided they are otherw^ise quali- fied. Based on the problems and questions set at previous C.P.A. examinations. Special points to be considered in the audit of munic- ipalities, institutions, banks, investment and insurance companies, land companies, publishers, mines, public utilities, contractors, etc. Investigations for special purposes. The Auditor's Report. Systems. Income Tax. Consolidated Balance Sheet and Consolidated State- ment of Profits and Income. Credit, two year-hours. Given in Chicago^, Mon., 7 to 9 p. m. Professor Himmelblau. Public Service Corporation Accounting — Special points arising in the accounts of electric light, gas, water, telephone and telegraph, electric railw^ays and steam railways, such as plant costs, intangible values, discounts on securities, depreciation, classification of main- tenance and betterment expenditures, systems of internal check, etc. Classification of Accounts prescribed by the Interstate Commerce Commission and various state commissions. Preparation of Balance Sheets and Operating Statements for independent and controlled companies; compilation of statistical data and the uses thereof. Special points to be noted in connection with the purchase or sale of utility properties; in audit made for the purpose of certifying to amount of bonds which may be taken down under trust indenture. Points to be noted in investigations for rate cases; methods of deter- mining operating costs of joint utilities, principles underlying the valuation of physical and intangible property, methods of calculating, "going value," depreciation, working capital, fair value, fair rate of return, and procedure expenses. Special facilities available for re- ^Subjects marked "Given in Chicago" are not offered in Evanston. Many of the other subjects are repeated in Chicago sections. The Chicago classes meet in the late afternoon and evening, and are intended primarily for men who are employed during the day. Except for Resources and Trade, day students are admitted to Chicago sections only upon the recommendation of their faculty adviser. THE SCHOOL OF COMMERCE 19 search work. Credit, two year-hours. Additional credit may be arranged for through seminar. Given in Chicago, Wed., 7 to 9. Professor Himmelblau. Factory Cost Accounting — Accounting incident to the purchase, receipt and issue of raw finished materials, payrolls, and factory expenses, and the scientific distribution thereof; issuance of shop orders; perpetual inventories; productive and non-productive labor; recording and paying of wages; piece work, profit-sharing and premium or bonus systems; factory overhead expenses; rent and interest in costs; system of repair, renewal and construction orders and the allocation of selling, distributing and administrative expenses ; the use and value of graphic charts in the final assembly of data and statistics. Open to students who have had the equivalent of Ac- counting I. Registration on permission of instructor. Credit, two year-hours. Given in Chicago, Wed., 7 to 9. Mr. Lynn. Quiz Class — Thorough practice work in class room to prepare candidates for C.P.A. examinations. Object is to train students to apply accounting principles and to work in class room under sub- stantially same conditions as in examination room. Practical accounting problems; auditing and theory of accounts; analysis and discussion. The last hour is devoted to an open discussion of the *'how" and "why" of the solutions to problems assigned. Instruction is largely individual. Credit, two year-hours. Given in Chicago, Sat., 2 to 5. Professor Andersen. DEGREE OF CERTIFIED PUBLIC ACCOUNTANT By act of the General Assembly passed May 15, 1903, provision is made for a state examination for the degree of Certified Public Accountant. Copies of the state law and the rules governing the examination, and questions given in previous examinations since 1903, may be secured at the office of the School of Commerce. Banking and Finance PROFESSOR LAGERQUIST AND PROFESSOR RICHTER Money and Banking (Economics Bi) — First semester — The principles of money and the instruments of credit; banks and their function; note issue, deposit currency, loans, reserves and banking principles. Second semester — Problems of Practical Banking: The organization and business of a bank; the trust department; the credit 20 NORTHWESTERN UNIVERSITY department; the officials and their responsibilities. Clearing houses; domestic and international exchange; relation of the banks to com- mercial crises and to the United States Treasury; banking systems and banking legislation. Open to students who have completed Economics A (see page 22). May well be preceded by Economics AA. Credit, three year-hours. Tu., Th., Sat., 9. Professor Richter. Corporation Finance (Economics Bj) — Corporate organization in modern business; the salient points in its legal organization; classifi- cation of the instruments of finance; promotion, underwriting, cap- italization, earnings, expenses, surplus, manipulation, insolvency, receivership, re-organization, and regulation. Open to students who have completed Economics A. Credit, three semester-hours. First semester, Mon., Wed., Fri., 9. Professor Lagerquist. Investments (Economics Cio) — Markets and their influence on the price of securities. Elements of sound investments and methods of computing net earnings, amortization, rights, and convertibles. Government, municipal, railroad, steamship, street railway, gas, elec- tric, water power, real estate, timber, and irrigation securities as investments. Open to students who have completed Corporation Finance. Credit, three sejnester-hours. Second semester, Mon., Wed., Fri., 9. Professor Lagerquist. Banking, Advanced Course — Preparation for banking, brokerage or bond and mortgage business; credit and the administrative meth- ods of houses dealing in credit, especially the commercial bank; loans and discounts, the distribution of funds among these classes; credit department; foreign and domestic exchange; the relations with cor- respondents; customers' accounts, and the extension of business; com- parison of methods in vogue in dififerent parts of the United States, and practices of foreign institutions; study of our banking law, administration of the Comptroller's office and the conduct of exami- nations; banking law and practice of the banking departments of the principal states. Open to students who have completed Money, and Banking. Professor Richter. Business Law PROFESSOR BAYS AND MR. RUTH Business Law I and II — General elementary law; contracts; agency; sales of personal property; debtor, creditor, and bankruptcy; trademarks and unfair competition. Credit, four semester-hours. First semester, Wed,, Fri,, 2 to 4. Professor Bays, THE SCHOOL OF COMMERCE 21 Business Law III — Corporations; partnerships. Given in Chi- cago, first semester, Fri., 7 to 9. Credit, two semester-hours. Mr. Ruth. Business Law IV — Negotiable paper, suretyship, banks and bank- ing. Given in Chicago, second semester, Th., 7 to 9. Credit, two semester-hours. Professor Bays. Business Law V — Law of real and personal property, insurance. Given in Chicago, second semester, Fri., 7 to 9. Credit, two semester- hours. Mr. Ruth. Commerce PROFESSOR SWANSON, PROFESSOR TOWER, AND MR. STITT Principles of Business Organization and Management (Econom- ics C16) — The organization and management of a business with reference to operation; functional, territorial and unit specialization; coordination of men and departments; the delegation of authority in the establishment of standards, in the handling of daily routine and operation, in maintaining discipline, in emergencies; the relation of responsibility to authority; the manner in which this relation can be sustained; control by means of statistics, graphs and charts, reports, supervision and inspection, line organization; standardization of material, operations, methods, machinery, product; discipline, dis- ciplinary officers, principle of reward and punishment, value of fines, immediate attention in case of infraction of rules; merit records; business policies. Credit, three semester-hours. First semester, Tu., Th., Sat., 10:30. Professor Swanson. Commercial Organization, Economics C16 — Factors in our dis- tributive system including manufacturer ; general and specialty whole- saler; jobber and sub-jobber; commission merchant; factory agent; broker; department, specialty, general, syndicate store; general re- tailer; mail order retailer; retail agent and salesman. Sales, adver- tising and credit organization and management of the factors in the various schemes of distribution. Credit, three semester-hours. Second semester, Tu., Th., Sat., 10:30. Professor Swanson. Resources and Trade — First semester — The United States as an industrial and commercial nation. Agricultural resources; forest resources; mineral resources; water resources; general survey of in- dustries and commerce. Second semester — World commerce. Growth 22 NORTHWESTERN UNIVERSITY of world commerce; leading commercial nations; great staples of trade; trade routes, traffic, and commercial centers; commercial rivalries. Required in the first year of the course in Business Admin- istration. Credit, two year-hours. Given in Chicago, Tu., 4 to 6. Professor Towner. Foreign Trade — Significance. Method of investigating w^hether a foreign market exists for a class of goods, and w^here it exists. How^ a foreign market can be developed: the nature of the article — its uses, possible substitutes, customs, habits, social or economic conditions affecting the possible use in a foreign country. Modifica- tion of the articles to meet foreign needs or prejudices and to facilitate shipment. Work of consular service. International credits; selling methods in international trade; packing; invoices; the contract; the voyage; the delivery; international exchange. Credit, two semester- hours. Given in Chicago, second semester, Fri., 7 to 9. Mr. Stitt. Geography of South America — Credit, three year-hours. Tu., Th., Sat., 8. Trade of South America — Credit, three year-hours. Tu., Th., Sat., 10. Economics PROFESSOR HOTCHKISS, PROFESSOR DEIBLER, PROFESSOR HOWARD, PROFESSOR LAGERQUIST, PROFESSOR SECRIST, PROFESSOR SWANSON, PROFESSOR VANDERBLUE, PROFESSOR HEILMAN, AND PROFESSOR RICHTER AA. Economic History — First semester — The general outlines of the economic history of England. Second semester — ^The study of the economic history of the United States, with due emphasis on present economic problems. Open to all students. Credit, three year- hours. For College Juniors and Seniors, or toward a major, this course bears but two year-hours of credit. Tu., Th., Sat., 9. Pro- fessor Swanson. A. The Elements of Economics — An elementary course in the principles of economics. First semester — An examination of the fundamental principles of economics. Second semester — Application of these principles to practical problems. Throughout the course special attention is given to the relation between theory and practice. Required of Sophomores taking Pre-Commerce course. Credit, three THESCHOOL OF COMMERCE 23 year-hours. Credit is not given unless the full course is completed. Mon., Wed., Fri., 8, 9, 10; Tu., Th., Sat., 9. Professor Deibler, Professor Lagerquist, Professor Secrist, and Professor Vanderblue. Bi Money and Banking — See Banking and Finance, page 19. B2. Labor Problems and Trade Unionism — First semester — The development of a w^age-earning class, with, special emphasis on economic causes. Problems of woman and child labor. Immigration. Early organizations of labor. Second semester — Trade union his- tory, structure, methods and policies. The trade agreement, strikes, arbitration, the injunction and the legal responsibilities of the union. Alternates with Course C4. Open to students who have completed Course A. Credit, three year-hours. Mon., Wed., Fri., 8. Profes- sor Deibler. B3. Corporation Finance — See Banking and Finance, page 20. B4. Sociology — Social evolution and progress, with particular reference to social laws. The development of social institutions, as the family, the state. The development of social control and the social and economic forces in social control. Open to students who have completed Course A. Credit, three semester-hours. Mon., Wed., Fri., 11. Professor Heilman. B5. Present Day Social and Industrial Problems — Industry and the modern city. Cities before and since the eighteenth century industrial revolution. Industries in relation to urban and rural population. Immigration. Women in industry. Industry and the family. Industry and the state. Mercantile, laissez faire, and human welfare views of industrial legislation. Social betterment activities with reference to standards of industrial and social progress. Open to students who have completed Course A. Credit, three year-hours. Mon., Wed., Fri., 9. Professor Hotchkiss. *B6. Elements of Public Finance; State and Local Taxation — First semester — The nature of the state; theories of public expendi- ture; the direction of public expenditures in cities, states, and in the nation; classification of public expenditures; budget making in theory and practice. Second semester — State and local taxation. The general property tax during the American colonial period; the tax history of Ohio to 1850, constitutional tax provisions; uniformity in taxation; taxation of real and personal property; comparative tax *Not given in 1916-1917. 24 NORTHWESTERN UNIVERSITY administration; inheritance, corporation, and income taxation. Alternates with Course C7. Open to students who have completed Course A. Credit, three year-hours. Mon., Wed., Fri., 10. Pro- fessor Secrist. By. Industrial Relations — See Industry, page 26. C2. Public Utilities — The relations of public service corpora- tions and the public; various methods of regulation and control, the franchise, the indeterminate permit, public ownership, public utilities commissions; the development by commissions and the companies of the principles of valuation, rate making, service and capitalization, analysis of recent important commission decisions. Mon., Wed., 3. Professor Heilman. *C4. Labor Conditions and Labor Legislation — Factory condi- tions in respect to hours, wages, sanitation. Industrial accidents, safety standards and accident prevention. Limitation of hours. Work- men's Compensation. Laws regulating the employment of women and children. Unemployment insurance. Minimum wages. Labor bureaus and the administration of labor laws. Alternates with Course B2. Open to students who have completed or are taking a course in the B group. Credit, three year-hours, Mon., Wed., Fri., 8. Professor Deibler. C7. Principles of Public Finance and Taxation — First semester — Public finance viewed as the science and method of satisfying public wants ; the field of private and public activity ; economy and efficiency in public expenditures; budget making; ordinary and extraordinary sources of revenue; war finance; public debts and financial adminis- tration. Second semester — Principles of taxation. Historical survey of early taxation with respect to tax principles; justice in taxation; theories of taxation; distribution of taxation; present tendencies and reform in taxation. Open to students who have completed or are taking a course in the B group. Credit, three year-hours. Mon., Wed., Fri., 10. Professor Secrist. C8. Social and Economic Reforms — A study of various pro- posals for economic reform. Socialism, the Marxian philosophy and its recent modifications, the growth and tactics of Socialist party in Europe and the United States, communism and the communistic experiments, the Single Tax, profit sharing in industry. Social insur- ance. First semester. Mon., Wed., Fri., 10. Professor Heilman. C9. Value and Distribution — A more thorough study of eco- nomic principles than is possible in the introductory course. A com- THESCHOOL OF COMMERCE 2$ parison of the theories of distribution as developed in the works of prominent economists as Marshall, Bohm-Bawerk, Taussig, Clark, Fisher, etc. Credit, three semester-hours. Second semester. Mon., Wed., Fri., lO. Professor Heilman. Cio. Investments — See Banking and Finance, page 20. Cii. Transportation — See Transportation, page 27. *Ci2. Trusts and Government in Industry — See Industry, page 25. C14. Special Problems in Social Betterment — Individual con- ferences and reports upon special phases of topics covered in Course B5. Study of literature and source materials on a particular subject together with a moderate amount of field work. Results embodied in a semester report carrying two hours of credit. Open at the discre- tion of the instructor to students who have completed Course B4, and who are taking B5. Second semester, hours to be arranged. Professor Hotchkiss. C15. Statistics and Statistical Methods — See Statistics, page 27. C16. Principles of Business Organization — See Commerce, page 21. C16. Commercial Organization — See Commerce, page 21. D. Seminar — See Seminar and Research Courses, page 28. Industry PROFESSOR HOTCHKISS, PROFESSOR HOWARD AND MR. DUTTON Factory Management — ^^Factors affecting location of plant; adap- tation of building to process; types of factory building; routing of work; selection and arrangement of machinery; auxiliary depart- ments. Types of organization and special adaptations of each type; executive control; methods in the Production, Stores, Purchasing, Shipping, Engineering, Cost, and other departments ; routing of work ; progress records; standardization. Handling of labor, wage systems; time study; selection, discipline, and records; methods of securing the workmen's co-operation. Credit, four semester-hours. First semester, Wed., Fri., 2 to 4. Mr. Dutton. *Trusts and Government in Industry (Economics C12) — First semester — Historical development of the trust problem. Second semester — Monopoly and the restraint of trad? under the common 26 NORTHWESTERN UNIVERSITY law; trust regulation as a problem in administration; state and fed- eral anti-trust laws; work of existing commissions; trust policies in foreign countries; present basis and proposed methods of trust regu- lation. Alternates with Economics B5. Open to students who have completed Economics B3. Credit, three year-hours. Mon., Wed., Fri., 9. Professor Hotchkiss. Efficiency Standards — Absolute and relative standards of effi- ciency: graphical methods; analysis of the problem; selection of the unit of measurement. Determination of Standards; of Investment Efficiency; the Investment Equation; of Labor Efficiency, composite merit standards for judging employes, time and motion study, in- ventive and statistical; of Method, instruction cards; of Quality, specifications. Application of Standards; the Schedule as applied to factory, office and other lines of work; Routing; Dispatching; Fol- low-up. The course will consist principally of laboratory problems to be worked out by the class. Credit, three semester-hours. Second semester, Wed., 2 to 3, Fri., 2 to 4. Mr. Dutton. Industrial Relations — This is a new course prepared to meet the demand for instruction in the scientific adjustment of the relations of employer and employe. The basis of the course will be the labor arrangements existing in such organizations as Hart, Schaffner and Marx, the Ford Motor Company, the United States Steel Corpora- tion, Procter and Gamble, the J. B. Stetson Company, and the Cloak and Suit Manufacturers Association in New York. Many manufacturing concerns have already established special labor departments to administer the policies and plans of the manage- ment concerning its employes. Employment, welfare work, dealing with organized labor, accident and compensation, benefit societies, etc., are among the functions of such departments and there is an increasing demand for men to take charge of such work. A broader understanding of all modern devices to secure harmonious relations between management and employes is becoming increasingly more necessary to every employer of labor. Credit, three year-hours. Tu., Th., and Sat., 9. Professor Howard. Psychology PROFESSOR SCOTT, PROFESSOR GAULT AND DR. TOLMAN Ai. Elementary General Psychology — Class room demonstra- tions and guidance to private observation ; demonstration of appara- tus and methods of experimental psychology; written exercises and THE SCHOOL OF COMMERCE 27 experiments by members of the class; text-book, lectures, and collat- eral reading. Open to College Sophomores, Juniors, and Seniors. Required in the Pre-Commerce course. Credit j three year-hours. Mon., Wed., Fri., 10, 2. Professor Scott and Professor Gault. Bi. Experimental Psychology — Intended for students of gen- eral psychology who desire to become acquainted with laboratory methods. Open to students who are taking or have completed Course Ai ; see University Catalog, page 135. Two consecutive hours of laboratory work are required for one hour of credit. Credit, two year-hours. Wed., Fri., 3 to 5 ; Tu., Th., 3 to 5. Dr. Tolman. B3. Applied Psychology; Business — Psychological principles which have the most direct application to business. Analysis of busi- ness practices and an attempt to understand from a psychological standpoint some of the causes of successes and failures in business. Individual students study the actual and also the possible applica- tions in business of such factors as imitation, competition, loyalty, the love of the game, and personal differences. More attention is paid to advertising than to other forms of business. Open to stu- dents who have completed Course Ai. Mon., Wed., Fri., 10. Credit J three year-hours. Professor Scott. Statistics PROFESSOR SECRIST Statistics and Statistical Methods (Economics C15) — Designed to prepare students to use approved statistical methods discriminat- ingly in the analysis of economic problems. Uses and abuses of statistics studied by means of problems drawn from general economics and business. Lectures and laboratory. Open to students who have completed a course in Economics as advanced as the B group. Credit, four semester-hours. Second semester, Mon., Wed., 3 to 5. Pro- fessor Secrist. Transportation PROFESSOR VANDERBLUE Transportation (Economics Cii) — Development of American transportation systems; the economic characteristics of railroads; competitive and non-competitive rate-making; the Interstate Com- merce Act, as amended; the causes of the passage of the Act, and the results of its workings; the railroad traffic associations; general characteristics of the rate structure; railroad rates and the problems of plant location, and of marketing; milling and fabrication in transit; 28 NORTHWESTERN UNIVERSITY diversion; routing and tracing; the Administrative and Conference rulings of the Interstate Commerce Commission; the Interstate Commerce Act, and its interpretation. Credit, three semester-hours. First semester, Tu., Th., Sat., 8. Professor Vanderblue. Rate-making (Economics Cii) — The place of the Traffic De- partment in the railroad organization; the rules of the Interstate Commerce Commission governing the compilation, filing, and publi- cation of tariffs; the Official, Western, and Southern Classifications, and the extent of their application; the interpretation of classifica- tions and of tariffs; Trunk Line and Central Freight Association rates; rates into Southeastern Territory, and the Carolinas; the Virginia Cities adjustment; Trans-Mississippi and Trans-Missouri rates; Colorado, Utah, and Montana common points; rates to Southwestern Territory and Texas common points ; Transcontinental rates; intra-state and intra-territorial rates; the effect of the Panama Canal on rates and traffic; export and import rates; port differentials and the decisions of the Commission thereon. Credit, three semester- hours. Second semester, Tu., Th., Sat., 8. Professor Vanderblue. Seminar and Research Courses Economic Seminar (Economics D) — Involves an original investi- gation extending over a complete school year, dealing with a phase of a fundamental economic problem related to the probable future business field of the student. Students meet for the discussion of general questions involving the technique of investigation, such as the use of original materials, taking of notes, marshalling of facts. The individual work is done under the direction of a member or members of the faculty. Intended to give the students training in the use of original data and in drawing correct and accurate con- clusions based on all of the facts in a limited field of inquiry. Credit 3-6 hours. The normal registration of second year students in Busi- ness Administration will be four hours. Advanced Seminars in Special Fields: Commercial Organization, Factory Management, Banking and Finance, Accounting, etc. — Organization similar to the one above, except that the work of each student is entirely Individual and under the direct supervision of a member of the faculty. Thorough investigation of some fundamental problem, particularly from the standpoint of business organization in the special field. Preceded normally by Economics D. Problems and Field Work — Intended to give an opportunity for students In their fifth year to come in contact with some of the actual THE SCHOOL OF COMMERCE 29 problems of organization and management, found in an individual establishment or group of establishments. In some cases, the work is based upon the experience obtained by actual employment during the preceding summer. In other cases, the experiences of summer work are used in connection with work carried on by the student contemporaneously with the third year of the Business Administra- tion course. Other Courses COLLEGE OF LIBERAL ARTS Students in Business Administration are encouraged to elect College work in English and other modern languages. History and Political Science, Mathematics, the laboratory sciences, and in any other subjects in which the discipline secured will contribute to the efficiency of the student in the line of business for which he is pre- paring. THE LAW SCHOOL Students are also encouraged to supplement the Law courses offered in the School of Commerce by work in the Law School in all cases where further legal training seems essential to the best preparation for a particular career. This applies particularly to the students preparing for Foreign Trade, for whom a thorough training in International and Constitutional Law is indispensable. For details concerning courses in the College of Liberal Arts and in other schools of the University, consult the Annual Catalog of the University. GENERAL INFORMATION The Library The Library contains 105,000 bound volumes and approximately 70,000 pamphlets. It is open to officers of the University, and to students upon the payment of their regular semester bills under the following regulations: I. During the college year the Library is open, except on Sun- day, from 8 a. m. to 10 p. m. In the summer vacation, except on Saturday afternoon and on Sunday, it is open from 8 a. m. until 12 noon and 1 130 p. m. to 5 p. m. The Library is closed on New Year's Day, the Fourth of July, Thanksgiving Day, and Christmas Day. 30 NORTHWESTERN UNIVERSITY 2. Officers of the University have direct access to the shelves and are entitled to the first use of books. 3. Students may draw^ from the Library three volumes at a time, and these may be kept for two wrecks unless specially restricted. Graduate students may have six volumes at a time. 4. The book stacks are not open to the students in general or to the public; but cards of admission may be given by the Librarian on recommendation of an officer of instruction. 5. Reserved books in the reading room and the seminary rooms are w^ithdrawn from circulation at the request of officers of in- struction for the use of their classes. The books reserved in the read- ing room and other books of reference are placed on open shelves freely and equally accessible to all readers ; or, w^hen much in demand, they are kept at the desk, and delivered on application there. These books are on no account to be taken from the reading room, and must be used w^ith due regard to the rights of others. 6. Persons not members of the University are allowed the use of the reading room at the discretion of the Librarian. Persons in- troduced by an officer of the University may be permitted to take books for a short period on the officer's account, or may be granted the privileges of the Library upon written application endorsed by an officer of the University. In addition to the University Library in Evanston, there are avail- able to the students of the School of Commerce the Commerce Library in the Northwestern University Building, Chicago; the Elbert H. Gary Library of Law, housed in the same building; the John Crerar Library, located in the Marshall Field Building, and the Public Library of Chicago. The John Crerar Library is very completely equipped with materials for use in business research. Employment for Graduates Although the School of Commerce does not promise to secure positions for its graduates, it has organized a Bureau of Employment through which it makes a systematic effort to find positions for stu- dents w^ho have made a good record in the School. Aside from the opportunity which the Bureau of Employment affords in placing graduates, the association with the students in the evening school, for which the curriculum provides in the third year of the course in THE SCHOOL OF COMMERCE 31 Business Administration, will aid students in making satisfactory con- nection with business firms upon the completion of their study. In most cases the third year students will be employed a portion of the time with a local business house engaged in the business for which the student is specializing. In such cases the student will be afforded an opportunity to make acquaintances which may lead to a permanent connection. Residences for Men Eleven new dormitories, of which seven are fraternity houses and four are so-called College Houses, are now available for men students, and all men are required to live in a dormitory unless for sufficient cause they are given formal permission to live elsewhere. The College Houses are named Lindgren House, after Mr. John R. Lindgren, the donor; Hinman House, Foster House, and Haven House, after the first three Presidents of the University. For description of the Buildings, see page 47 of the General Catalog. A dining hall or Commons is operated on the top floor of one of the buildings, where good board may be had at reasonable prices. Each student room is for one person and is furnished with a single bed, mattress, pillow, chiffonier, a combined study table and bookcase, chairs, rugs, and window shades. The occupant furnishes his own bedding and towels, but the University takes charge of the laundering of these. In the interest of economy, the cost of electric lighting is not included in the general charge, but is apportioned pro rata, to the occupants of the House. The charge to each student for a single, furnished room, includ- ing care and heat for the school year, is from $90 to $110, except for rooms having a private bath, or a bath reserved for a suite, for which the annual charge is from $120 to $150. A chart can be obtained from the Registrar showing the location of rooms, with cost. Room rent is payable in two installments, one at the beginning of each semester, and is not returnable. A deposit of $10.00 is required at the time a room is assigned, to be held until the end of the college year to cover possible charges, any unused balance to be returned to the student. Applications and all inquiries in regard to the dormitories should be sent to the Registrar, University Hall, Evanston, Illinois. 32 NORTHWESTERN UNIVERSITY Business Fellowships Arrangements have been made with the National City Bank of New York to select annually one or more students from a group recommended by the School of Commerce, to spend in that institution a full year consisting of summer vacations and a period imme- diately following graduation. The student will be paid $50.00 per month by the bank, and will be allowed a maximum sum for travel- ing expenses. Several Chicago firms will employ, during vacations, a selected number of students who have definitely decided to enter the line of business in which the respective firms are engaged. Fellowships Two part-time fellowships are awarded each year. These fellow- ships carry an honorarium of $400 each, and tuition; applications should be filed before April first. Commerce Society The Commerce Society is an organization composed of students interested in commerce who meet specified requirements. This Society meets every two weeks and is addressed by business men. Since its organization in March, 19 16, the speakers who have ap- peared before the Society have included Edward M. Skinner, General Manager of Wilson Brothers; George Woodruff, President of the First National Bank, Joliet; Irving A. Berndt, Manager of Betterment Department, Joseph T. Ryerson & Son. Grades of Scholarship At the end of each semester the standing of each student in each of his courses is reported by the instructor to the Secretary and is en- tered of record. Standing is expressed, according to proficiency, in grades A, B, C, D, E, F. Grade A denotes superior scholarship; grade B, good scholarship; grade C, fair scholarship; grade D, poor scholarship; grade E, a condition which may be removed by a second examination ; grade F, a failure removable only by repetition of the subject in the class. Work of grades A, B, and C is counted toward a degree. Work of grade D may also be counted toward a degree, but not more than one- THE SCHOOL OF COMMERCE 33 fifth of the work done under the Commerce Faculty offered to meet the requirements for graduation may be of this grade and no work of this grade may be counted toward the B.B.A. degree, unless offset by an equal amount of work of grade A in the same semester. Students who secure a lower grade than D in any course will be permitted to continue their work for the B.B.A. degree only in very exceptional cases. In such cases, regulations for making up the work in which the deficiency occurs are the same as obtain in the College of Liberal Arts. Work reported ''incomplete" at the end of any semester, and not made good by the beginning of the corresponding semester of the fol- lowing year, can thereafter be given credit only by repetition in class. The semester records of students are sent by the Secretary to the student's father or guardian. Class Attendance Students are expected to attend all regular class exercises and conferences which the instructor may designate. Each instructor is at liberty to adopt such measures as he deems expedient for bringing this about. In case absences in any course should be repeated, the adjustment of work takes place under the rules which obtain in the College of Liberal Arts. See Annual Catalog, page 163. Fees and Expenses All fees are due and payable in advance and until paid the student's registration is considered provisional. Registration Fee — A fee of five dollars is paid each semester by all students to cover general administration expenses. It is not sub- ject to refund. Tuition Fees — Students are required to pay fees for instruction and incidentals each semester as follows: Regular full tuition and incidentals $55.00 Students pursuing a single study, i. e., work not exceeding five hours a week 33.00 Graduate students pursuing courses prescribed for the degree of Bachelor in Business Administration are required to pay the tuition of the School of Commerce. 34 NORTHWESTERN UNIVERSITY Lecture Note Fees — A fee sufficient to cover the cost of prepar- ing and manifolding notes in certain subjects is entered with the tuition bill at the beginning of each semester. This fee, depending on the subject, varies from $3.00 to $5.00 a semester. Late Registration — A fee of two dollars is charged students reg- istering after the first Wednesday in the first semester and after the first Saturday in the second semester. Changes in Registration — A fee of one dollar is charged for any change in registration after the first full week of a semester. Special Exa?fiinations — A fee of two dollars is charged for each examination taken at a time other than that provided in the regular schedule. Graduation Fee — A fee of ten dollars is charged persons taking any degree. This fee is payable on the first day of May of the year of graduation. Refunds — No fees for instruction or incidentals will be refunded except in cases of sickness. If on account of his serious illness a student withdraws before the middle of a semester, one-half of his tuition fee will be refunded, providing he secures from the Dean a statement of honorable standing, and from a physician a certificate that his health will not permit him to remain in attendance. Appli- cation for a refund must be made before the close of the semester for which the fee was paid. Bills for fees are made out at the Commerce Office in Harris Hall. Payment is made at the Business Manager s Office, 51S Davis Street, Evanston. Checks should be made payable to "Northwestern University,' and all payments should be made in currency or in Chi- cago exchange. ESTIMATED ANNUAL EXPENDITURES LOW AVERAGE LIBERAL Registration fees $10 $ 10 $ 10 Tuition and incidental fees no no iio Laboratory and other fees 10 25 40 Board, 36 weeks 162 180 252 Room, 9 months 90 lOO IIO Laundry 25 36 45 Text-books and stationery 10 25 50 $417 $486 $617 THE SCHOOL OF COMMERCE 35 SELF-SUPPORT OF STUDENTS The University does not encourage students to enter school if entirely without resources. Not a few students, however, are able to help themselves materially by their labor, while pursuing studies. The Young Men's Christian Association, Evanston, conducts a bureau of self-help which is of assistance in securing work for a large number desiring it. Inquiries sent to the Secretary of this Association receive careful attention. UNIVERSITY NOT RESPONSIBLE FOR PERSONAL LOSSES The University is not responsible for the loss of any personal property belonging to any of the students in any building owned by the University, whether the loss occurs by theft, fire, or an unknown cause. HOW TO ADDRESS CORRESPONDENCE All correspondence concerning the course in Business Adminis- tration is handled at the Chicago office of the School of Commerce. Address letters of inquiry to the Secretary, Northwestern University School of Commerce^ Northwestern University Building, Chicago. Full information regarding requirements j courses, and fees for Pre-Commerce students is contained in the Annual Catalog of the University. This may be secured by addressing the Registrar of the College of Liberal Arts, Evanston, Illinois. 3 0112 105882028 HOW TO ADDRESS CORRESPONDENCE ALL correspondence is handled at the Chicago Office of the School of Commerce. Address letters of inquiry to the Secretary, Northwestern University School of Commerce, North' western University Building, CHICAGO. Northwestern University Bulletin is published weekly by Northwestern University during die academic year at Chicago, Illinois. Entered as second class inail tnatter November 21, 1913, at the post office at Chicago, Illinois, under act of Congress of August 24, 1912.